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1998 SESSION
SB 374 Insurance; unfair settlement practices, replacement and repair.
Introduced by: Stephen H. Martin | all patrons ... notes | add to my profiles
SUMMARY:
Insurance; unfair settlement practices; replacement and repair. Prohibits insurance companies and their representatives from recommending the use of a designated replacement or repair facility or service or products of a designated manufacturer when settling a claim without first advising the insured or claimant in writing that they are not obligated to use such facilities, services, or materials. Failure to advise the insured or claimant may result in penalties of up to $5,000. The use of such facilities, services or materials alters neither the insurer's nor the insured or claimant's liabilities or obligations under the insurance policy or the law.
FULL TEXT
HISTORY
- 01/22/98 Senate: Presented & ordered printed 980732700
- 01/22/98 Senate: Referred to Committee on Commerce and Labor
- 02/09/98 Senate: Passed by indefinitely in Commerce & Labor (12-Y 3-N)